Published on 5/29/2020 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $4.18 million capped gears linked to Russell 2000
By Wendy Van Sickle
Columbus, Ohio, May 29 – HSBC USA Inc. priced $4.18 million of 0% capped gears due July 30, 2021 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is greater than zero, the payout at maturity will be par plus 3 times the index return, subject to a maximum payout of par plus 18.75%. If the index return is less than zero, investors will have full exposure to the decline.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.
Issuer: | HSBC USA Inc.
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Issue: | Capped gears
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Underlying index: | Russell 2000
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Amount: | $4,181,150
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Maturity: | July 30, 2021
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 3 times any index gain, capped at par plus 18.75%; full exposure to any losses
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Initial level: | 1,393.074
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Pricing date: | May 26
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Settlement date: | May 29
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Agents: | UBS Financial Services Inc. and HSBC Securities (USA) Inc.
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Fees: | 2%
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Cusip: | 40438J718
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